Continuing its strong performance from the previous quarter, LendingTree reported record revenue in both its mortgage and non-mortgage lead generation business for the first quarter.
The online loan lead aggregator posted net income of $5.2 million, in contrast with a $6.4 million net loss during the same period last year. Earnings per share totaled 44 cents, far exceeding the average estimate of analysts polled by Bloomberg by 19 cents.
Total revenue grew 27%, to $50.9 million. Both LendingTree's mortgage and non-mortgage lines of business posted record revenue. Mortgage revenue rose 8% to $37 million, while non-mortgage revenue more than doubled to $13.9 million.
The Charlotte, N.C.-based company also noted that it saw higher enrollment in My LendingTree. More than 900,000 consumers have joined the personalization platform, up from 600,000 in February.
Looking ahead, LendingTree chief financial officer Alex Mandel previewed expanded marketing initiatives, in an effort to brand LendingTree as "the place to shop for money."
"We anticipate debuting new TV spots late in the quarter in support of our full suite of loan and credit categories and the compelling value proposition offered by My LendingTree enrollment," Mandel said.
For the full-year 2015's guidance, LendingTree has raised revenue expectations to between 21% and 24% growth, or between $202 million and $208 million, from previous estimates that expected growth only as high as 20%.
